Could your self-assessment tax bill soon be paid monthly?

Some self-assessment taxpayers could soon pay their tax bills monthly rather than in a lump sum under new government plans. Currently, if you complete a self-assessment tax return, you report your income and pay the tax you owe for the previous tax year by 31 January. Under the proposals, from the 2029-30 tax year, taxpayers paid monthly through PAYE would clear their tax bill in two parts. If your final tax bill ends up being higher than what was collected monthly, you would pay the remaining balance by 31 January 2031 when you file your tax return. Those affected still only need to submit a tax return and pay any tax they owe by 31 January.